EVERTEC (NYSE:EVTC) Issues FY24 Earnings Guidance

EVERTEC (NYSE:EVTC) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $3.08-3.15 for the period, compared to the consensus earnings per share estimate of $3.03. The company issued revenue guidance of $841-847 million, compared to the consensus revenue estimate of $850.72 million. EVERTEC also updated its FY 2024 guidance to 3.080-3.150 EPS.

EVERTEC Stock Performance

EVTC traded up $0.13 during midday trading on Friday, reaching $35.33. The company had a trading volume of 375,498 shares, compared to its average volume of 355,679. The business has a 50-day moving average of $33.28 and a two-hundred day moving average of $34.03. The company has a market cap of $2.26 billion, a P/E ratio of 27.60, a P/E/G ratio of 1.69 and a beta of 1.15. EVERTEC has a 1 year low of $28.76 and a 1 year high of $42.21. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 1.92.

EVERTEC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, October 28th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, October 28th. This represents a $0.20 annualized dividend and a dividend yield of 0.57%. EVERTEC’s payout ratio is 15.63%.

Analysts Set New Price Targets

Separately, Susquehanna lowered EVERTEC from a “neutral” rating to a “negative” rating and cut their price target for the stock from $38.00 to $28.00 in a research note on Thursday, September 5th.

Insider Activity at EVERTEC

In other news, EVP Miguel Vizcarrondo sold 40,000 shares of EVERTEC stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $34.11, for a total value of $1,364,400.00. Following the sale, the executive vice president now directly owns 129,928 shares of the company’s stock, valued at approximately $4,431,844.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.83% of the stock is currently owned by corporate insiders.

EVERTEC Company Profile

EVERTEC, Inc engages in transaction processing business and financial technology in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean; Latin America Payments and Solutions; Merchant Acquiring; and Business Solutions. It provides merchant acquiring services, which enable point of sales and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer (EBT) cards.